Shares of Apple Inc. (NASDAQ:AAPL) have received an average recommendation of “Buy” from the fifty analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $209.78.

AAPL has been the subject of a number of recent research reports. Maxim Group raised shares of Apple from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Morgan Stanley cut their price objective on shares of Apple from $203.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, April 20th. Monness Crespi & Hardt initiated coverage on shares of Apple in a report on Wednesday, April 11th. They issued a “buy” rating and a $235.00 price objective for the company. Royal Bank of Canada set a $203.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Wednesday, April 11th. Finally, Goldman Sachs Group set a $159.00 price objective on shares of Apple and gave the company a “neutral” rating in a report on Tuesday, April 3rd.

In other Apple news, COO Jeffrey E. Williams sold 15,653 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $185.18, for a total value of $2,898,622.54. Following the completion of the transaction, the chief operating officer now directly owns 168,181 shares in the company, valued at approximately $31,143,757.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Luca Maestri sold 39,122 shares of the company’s stock in a transaction that occurred on Friday, April 13th. The shares were sold at an average price of $174.66, for a total transaction of $6,833,048.52. Following the completion of the transaction, the insider now owns 64,475 shares of the company’s stock, valued at $11,261,203.50. The disclosure for this sale can be found here. In the last three months, insiders sold 192,208 shares of company stock valued at $35,104,302. 0.06% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quattro Financial Advisors LLC acquired a new position in Apple in the 1st quarter valued at approximately $133,000. Smart Portfolios LLC acquired a new stake in shares of Apple during the first quarter worth $134,000. Spectrum Financial Alliance Ltd LLC acquired a new stake in shares of Apple during the first quarter worth $138,000. Macroview Investment Management LLC increased its position in shares of Apple by 220.3% during the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after buying an additional 619 shares during the period. Finally, Oak Point Wealth Management acquired a new stake in shares of Apple during the fourth quarter worth $163,000. Hedge funds and other institutional investors own 58.07% of the company’s stock.

Apple traded down $2.47, reaching $187.88, during trading on Friday, according to MarketBeat Ratings. The company’s stock had a trading volume of 18,763,824 shares, compared to its average volume of 32,094,381. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $967.01 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.57 and a beta of 1.24. Apple has a 12 month low of $144.82 and a 12 month high of $194.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.69 by $0.04. The firm had revenue of $61.14 billion during the quarter, compared to the consensus estimate of $60.94 billion. Apple had a net margin of 21.55% and a return on equity of 39.97%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 EPS. equities analysts expect that Apple will post 11.42 EPS for the current year.

Apple declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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